The opportunity cost of travel time in recreation demand models.

Based on a household production framework, the analysis examines the implications of the treatment of travel and onsite times in recreation models. The empirical results are based on demand functions estimated for 43 water-based recreation sites with the Federal Estate component of the 1977 National Recreation Survey. Approximately half the estimated site demand models were influenced by the treatment of the costs of on-site time in the specification of the site demand functions. For sites that were not affected by the cost of on-site time, the evaluation indicated that discrimination be made between the two possible measures of the opportunity cost of travel time. -from Authors